Geospace and Quantum Subsidiary Partner with Carbon Management Canada for CCUS Passive Seismic Monitoring Research

Rhea-AI Summary

Geospace Technologies (NASDAQ:GEOS) has entered a Joint Industry Partnership with Carbon Management Canada to develop innovative carbon storage monitoring technologies. This collaboration will utilize SADAR, a seismic monitoring technology, to enhance real-time monitoring of CO₂ storage operations. The initiative aims to improve operational efficiency for gas storage companies by accurately monitoring underground containment. This partnership signifies Geospace's commitment to advancing technology in the carbon capture and storage sector.

Positive

• Partnership with Carbon Management Canada enhances Geospace's capabilities in carbon storage monitoring.
• Utilization of SADAR technology promises improved real-time monitoring and operational efficiency for gas storage companies.
• Positioning as a leader in the emerging carbon capture and storage market strengthens Geospace's business prospects.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Geospace Technologies Corporation (NASDAQ:GEOS) with its subsidiaries Quantum Technology Sciences and Geospace Technologies Canada announce a Joint Industry Partnership (JIP) with Carbon Management Canada focused on the development of carbon storage monitoring technologies. The partnership features the deployment of SADAR, a seismic acoustic detection and ranging technology originally developed by Quantum for security and surveillance applications.

This JIP will refine and validate the performance of passive seismic technologies for real-time monitoring of underground containment operations. Ensuring stored CO₂ can be accurately monitored helps gas storage companies reduce their risk and increase their operational efficiencies.

Industry Leading Research in Application of Passive Seismic Monitoring

“We’re excited to welcome the Geospace family of companies to our Joint Industry Project. This collaboration marks the first time that compact phased seismic arrays for carbon storage monitoring will be studied,” said Don Lawton, CMC’s Director of the Containment and Monitoring Institute and Professor Emeritus at the University of Calgary. “As the world moves forward developing large-scale CO₂ storage projects, we’ll need passive seismic technologies, like the one being developed by Geospace, to monitor injection operations and help verify secure storage of the CO_2.”

“CMC’s 200-hectare Field Research Station is an ideal environment to evaluate SADAR’s ability to cut through noise and produce real-time results through a reduced, more flexible footprint of sensors,” said Mark Tinker, CEO of Quantum and SADAR innovator. “After more than a decade of applying SADAR to US federal government applications requiring actionable information, we are anxious to apply it to observing the seismic-acoustic expression of subsurface reservoirs experiencing the injection or extraction of fluids.”

Novel Approach to Increase Flexibility and Improve Performance

SADAR’s physical design and analytics enhance signal-to-noise, affording more deployment flexibility in accommodating geographic constraints. Its spatial processing improves noise and clutter rejection. The analytic, real-time processing architecture simultaneously operates in the domains of time, frequency, and space in a reductive process that ultimately produces a bulletin of the events observed.

Walter R. Wheeler, President and CEO of Geospace Technologies said, “Since 1980, Geospace Technologies has been an innovative force in the oil and gas industry’s global search for more energy reserves. Our company is synonymous with paradigm-shifting approaches to engineering challenges in seismic data acquisition. By integrating Quantum’s analytic architectures into our acquisition systems, we are preparing to offer full system solutions for passive seismic monitoring applications in emerging energy markets such as carbon capture and storage, groundwater storage, enhanced geothermal, and steam assisted gravity drainage. By placing the full support of our engineering and software talent behind this project, we send a strong message that Geospace continues to drive innovation in the energy arena.”

About Carbon Management Canada
Carbon Management Canada is a national, not-for-profit organization providing emissions reduction solutions and support to Canadian industry and the research community. We enhance the competitiveness of Canada’s industries by accelerating the development and implementation of technologies that capture, utilize, store, and monitor greenhouse gases. Carbon Management Canada operates the Containment and Monitoring Institute (CaMI) Field Research Station in collaboration with the University of Calgary and is focused on measurement, monitoring and verification technologies for secure containment of CO₂ and other subsurface fluids. www.cmcghg.com

About Geospace Technologies
Geospace principally designs and manufactures seismic instruments and equipment. The company markets seismic products to the oil and gas industry to locate, characterize and monitor hydrocarbon-producing reservoirs. The company also markets seismic products to other industries for vibration monitoring, border and perimeter security and various geotechnical applications. Geospace designs and manufactures other products of a non-seismic nature, including water meter products, imaging equipment and offshore cables. Quantum Technology Sciences, a wholly owned subsidiary of Geospace Technologies, was acquired in 2018. The company leverages Geospace’s core engineering and manufacturing competencies to create novel seismic acoustic technology for security and surveillance solutions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005834/en/

Geospace Technologies, Caroline Kempf, ckempf@geospace.com, 321.341.9305

Carbon Management Canada, Ruth Klinkhammer, ruth.klinkhammer@cmcghg.com, 403 852-7651

Source: Geospace Technologies